Sadr Logistics Co. reported a net profit after Zakat and tax of SAR 3.5 million for the first nine months of 2021, a 98% increase compared to a net profit of SAR 1.8 million in the same period last year.
The company attributed the increase in profit to higher sales due to the expansion in logistics sector and the financial impact of the logistic services contract with Supreme Foods Processing Co. Ltd. (one of Tanmiah Food companies), as the revenue from the net investment in the contract was realized during the current period, in addition to the increase in sales in other operational sectors.
| Item | 9m 2020 | 9m 2021 | Change |
|---|---|---|---|
| Revenues | 32.70 | 51.99 | 59.0 % |
| Gross Income | 9.78 | 17.69 | 80.9 % |
| Operating Income | 2.11 | 4.89 | 132.0 % |
| Net Income | 1.77 | 3.52 | 98.4 % |
| Average Shares | 153.96 | 153.96 | 0.0 % |
| EPS (Riyals) | 0.01 | 0.02 | 98.4 % |
The company reported a net profit of SAR 2.7 million for Q3 2021, almost a four-fold year-on-year (YoY) increase.
| Item | Q3 2020 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 11.65 | 21.03 | 80.6 % |
| Gross Income | 3.52 | 9.25 | 162.9 % |
| Operating Income | 0.77 | 3.41 | 343.5 % |
| Net Income | 0.55 | 2.67 | 383.0 % |
| Average Shares | 153.96 | 153.96 | 0.0 % |
| EPS (Riyals) | 0.00 | 0.02 | 383.0 % |
| Item | Q2 2021 | Q3 2021 | Change |
|---|---|---|---|
| Revenues | 16.08 | 21.03 | 30.8 % |
| Gross Income | 4.02 | 9.25 | 130.1 % |
| Operating Income | 0.71 | 3.41 | 379.0 % |
| Net Income | 0.25 | 2.67 | 990.2 % |
| Average Shares | 153.96 | 153.96 | 0.0 % |
| EPS (Riyals) | 0.00 | 0.02 | 990.2 % |
On a sequential basis, net profit also surged from SAR 0.25 million in Q2 2021.
Shareholders’ equity, after minority interest, increased to SAR 36.615 million as of Sept. 30, 2021, from SAR 33.746 million a year earlier.
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